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PSEi rises further on rate cut, trade deal hopes

Business | The Stock Market

PSEi rises further on rate cut, trade deal hopes

The PSEi continued to advance as investors are encouraged by hopes of a rate cut and the possibility of a deal for better tariff rates with the US.

The main index added 40.58 points or 0.66 percent to close at 6,186.10 as Industrials led the charge with only Miners slightly down. Volume remained low at 1.4 billion shares worth P4.46 billion as gainers outnumbered losers 102 to 79 with 66 unchanged.

“Philippine shares pushed closer the 6200 level as sentiment continued to improve with the markets calming down before the Easter holiday,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

He added that, “Sentiment also got a boost from U.S. stocks rose Monday, led by tech gains after President Trump temporarily exempted smartphones, computers, and chips from new tariffs. However, he later clarified the products still face a 20 percent Fentanyl Tariff under different category, keeping trade uncertainty alive.”

Locally, Limlingan said the market continued trading the shortened trading week higher, lifted by the U.S. tariff exemption and hopes of further BSP policy easing.

Philstocks Financial Research Manager Japhet Tantiangco said “The local market rose further this Tuesday as investors took cues from Wall Street's climb overnight. Investors are pinning hopes on the possibility of a US - Philippines trade deal that could lead to lower tariffs of the former against the latter.”

“Investors are also hopeful that the BSP would cut rates further moving forward to give the local economy a boost,” he noted.

Related Tags

Regina Capital Development Corporation Luis Limlingan Japhet Tantiangco Philippine Stock Exchange index (PSEi) Philstocks Financial

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